Personal Finance – 1/13/17
I. Bellwork
Mike has a balance on his credit card of $2500. His interest rate is 18%/year. He makes a $200 each month.
SHOW YOUR WORK FOR EACH PROBLEM
- What is his credit balance the first year?
- What is his credit balance the second year?
- What is his credit balance the third year?
II. Objectives
- Discuss and review concepts and terminology related to credit
- Analyze credit related problems and calculate balances
- Develop a personal finance strategy for earning, spending, saving and investing resources.
III. Classwork
A. 16.3 Calculate Credit Card Balance on iLearn
B. Practice test and review on iLearn –
C. Banzai – Due on Tuesday @ 2:15.
- Late scores will lose 6 points each day
IV. Credit Test on Tuesday
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